From Fox: Offering a rare glimpse inside the world of high-speed
trading, Getco disclosed an 82% plunge in earnings on Wednesday through the
first three quarters of 2012 amid tumbling trading volume and greater
competition.
The results offered from the privately held Chicago company
come ahead of its pending takeover of Knight Capital Group (KCG), which the two
sides anticipate will be completed in the second quarter.
According to a Securities and Exchange Commission filing,
Getco generated $24.6 million in net income during the first three months of
2012, down from $134.8 million the year before.
Revenue tumbled 40.8% to $425.3 million, largely due to a decrease in
trading revenue to $413.6 million from $722.2 million….
Read more:
http://www.foxbusiness.com/industries/2013/02/13/high-speed-trader-getco-reveals-82-dive-in-profits/#ixzz2KoDlJVVc
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